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Pension increase: annual rate and lump sums
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3.—(1) This article applies to an official pension if—
(a)a qualifying condition is satisfied; or
(b)the pension is—
(i)a derivative pension;
(ii)a substituted pension; or
(iii)a relevant injury pension.
(2) In relation to any period on or after 7th April 2025, the pension authority may increase the annual rate() of the pension—
(a)for a pension which began before 8th April 2024, by 1.7 per cent;
(b)for a pension which began on or after 8th April 2024, by 1.7 per cent multiplied by—
where A is the number of complete months in the period between the beginning date() of the pension and 7th April 2025.
(3) In relation to a lump sum() which is payable on or after 8th April 2024 but before 7th April 2025, the pension authority may increase the lump sum by 1.7 per cent multiplied by—
where A is the number of complete months() in the period between the beginning date of the lump sum (or, if later, 8th April 2024) and the date on which it becomes payable.
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